Forecast: Labour Cost Per Employee FTE in Building Completion and Finishing in the UK

The labour cost per employee FTE in the building completion and finishing sector in the UK is expected to rise incrementally from 34.2 thousand euros in 2024 to 34.9 thousand euros in 2028. With the 2023 baseline at slightly below 34.2 thousand euros, the year-on-year growth for each consecutive year remains modest, indicating stability in the sector. The Compound Annual Growth Rate (CAGR) over the five-year period is anticipated at a consistent rate, reflecting a steady increase in labor costs, aligning with economic forecasts.

Future trends to monitor include:

• Impact of technological advancements and automation on labor cost efficiency.
• Changes in industry regulations or government policies affecting employment.
• Potential economic factors like Brexit impacts or inflation affecting the wider construction industry.